Ryun Inc has an order to manufacture several specialty products. The beginning cash and equity balances were $105,000. All other beginning balances were $0. Use your T-Account worksheet to record the following transactions: 1. Purchased $44,000 of direct materials on account. 2. Used $40,000 direct materials in production during the month. 3. Manufacturing employees worked 2,500 hours and were paid at a rate of $15 per hour. Paid cash for the direct labor expense. 4. The company applies OH based on direct labor cost. This year's annual overhead is estimated to be $450,000. The actual direct labor cost last year was $800,000. The company estimates it will spend $750,000 in labor cost this year. 5. Compute and record the OH applied to the job. 6. Completed units costing $50,000 during the month. 7. Sold 5,000 units costing $5.50 during the month. The selling price is 40% above cost. Received cash. 8. This year, the company paid $25,400 cash for actual OH expenses incurred. Last year the company paid $86,000 cash for OH expenses. Record the actual OH costs. 9. The company considers OH differences less than $4,000 to be immaterial. By how much was OH over applied or under applied? Record the difference. Now, CHOOSE 6 CORRECT STATEMENTS from the choices below. You should have 6 check marks indicating your answer choices. Each answer choice is worth 4 points: 1. The predetermined overhead rate is? 2. The direct labor that is debited to labor expense is? 3. How much are the total current manufacturing costs? 4. How much revenue did the company earn? 5. By how much was MOH over/under applied? 6. How much are the costs of goods manufactured? The amount of over/under applied MOH is $667 The amount of sales revenue earned was $50,000 The direct labor that will be debited to direct labor expense is $0 The predetermined MOH rate is $.60 The amount of sales revenue earned was $27,500 The predetermined MOH rate is $..75 The predetermined MOH rate is $1.67 The direct labor that will be debited to direct labor expense is $162,833 The direct labor that will be debited to direct labor expense is $37,500 The amount of over/under applied MOH is $2,950 The direct labor that will be debited to direct labor expense is $22,500 The cost of goods manufactured is $40,000 The total current manufacturing costs are $100,000 The cost of goods manufactured is $27.500 The amount of sales revenue earned was $38,500 The cost of goods manufactured is $50,000 The amount of over/under applied MOH is $0 The direct labor that will be debited to direct labor expense is $160.137